Assumptions about development on the macro scale

On a global scale, the gradual reduction in economic differences is getting increasingly more apparent. Further economic strengthening of the countries that have been ranked at the top in terms of wealth is expected to continue across the world, but this phenomenon will be accompanied by a strong acceleration in the development of poorer regions, which will change the image of the modern economy.

Invariably, the impact of China’s development has been increasing for several years. African countries, which have the potential to create a large consumer market, remain a great unknown. Experts predict that economic growth in this part of the world may accelerate predominantly due to Chinese investments in this market and that, in the future, African-Chinese cooperation may be a significant component of the global economy.

These days, in the context of the macroeconomic scale, the concept of the fourth industrial revolution, driven by automation, robotization, the Internet of Things and artificial intelligence, is often brought up. The so-called industry 4.0 is expected to increase production efficiency and quality.  In the manufacturing industries, fully automated production lines (in the automotive, electronics and food sectors) or IT systems (in finance, banking and logistics) are used on a mass scale. The role of humans in this process is to control and optimize devices. With this direction of change, the challenge will be to introduce appropriate security systems to protect the systems against cyberattacks. Changes in the needs and expectations of both employees and employers will become more noticeable. The development of new technologies will improve the mobility and flexibility of employees, while the progressing automation and robotization will shape the labor market of tomorrow. Competition between various industries employing high-class specialists and talented staff may increase significantly.

A major macro trend is the shaping of the economy toward the so-called circularity under which waste becomes raw material. It will permit a better allocation and use of available but limited resources. The growing pro-climate awareness of the society will affect the development and popularization of the circular economy.

In recent years, the financial sector has turned toward sustainable funding and investment, which means that in addition to profits and return on investment, aspects of sustainable development and social and environmental benefits are becoming increasingly more significant. In their policies, banks and financial institutions make sure to include criteria related to environmental protection. More often than before, they pay attention to whether the businesses operated by their clients are run responsibly in terms of environmental impact.

The future of industrial activities, including in the power sector, will be associated with transition toward climate neutrality, zero- and low-carbon generation and reduction of environmental impact to a minimum.

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